Kakao M Corp. agreed to acquire 41% stake in Moonlight Film Co.,Ltd. from Haengnam Inc. (KOSDAQ:A008800) for KRW 8.2 billion on September 17, 2019. The consideration will be paid on September 17, 2019. Kakao M Corp. will acquire 820 shares. Post transaction, Haengnam will hold 380 shares, representing 19% stake in Moonlight Film. Moonlight Film had total assets of KRW 7.7 billion, net assets of KRW 2.7 billion, sales of KRW 1.6 billion and net income of KRW 195 million for the year ended December 31, 2018. Transaction was resolved by the Board of Haengnam on September 17, 2019. The transaction is expected to complete on September 17, 2019.